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“It would also reaffirm Cumbria’s position of nuclear excellence with Britain’s Energy Coast.

“We are convinced the PRISM technology provides an innovative solution to the objectives set by the Nuclear Decommissioning Authority – the quickest disposal of plutonium at the best value – while providing substantial environmental and economic benefits.”

The Department of Energy and Climate Change has said the technology is unproven but GEH say it has been demonstrated in a fast reactor in the United States.

A company spokesman said: “We are currently working closely with the UK government including the NDA to detail why it believes PRISM technology is the best choice for the UK taxpayer.”

GEH will sign a memorandum of understanding with the National Nuclear Laboratory Ltd to provide expert technical input to the potential UK deployment of GEH’s innovative PRISM reactor.

Mr Roderick said: “We are excited for the potential opportunity to utilise the expertise of NNL and help the UK continue to take a leadership role in the reuse of plutonium.”

“We believe that PRISM is the best way to manage the UK’s plutonium stockpile efficiently, securely, and safely while generating low-carbon electricity at the same time.”